Monday, November 22, 2010

Conversion Prophet - What is Conversion Tracking?

Conversion Prophet 2

This review of Conversion Prophet 2 hopes to help you determine if this software really would be of benefit to your online business. Most online marketers have heard the old adage...track, track, track, and then track some more. There is plenty of truth in this. Tracking can really help you get more visitors, and as a result, more sales from your existing campaigns. Why put more effort into getting new traffic when you can make your current traffic convert better? But how can Conversion Prophet 2 really help your traffic convert at a higher percentage?

Conversion Prophet 2 is a PHP based script that does need to be installed on your web server before you can begin tracking stats. The setup isn't exactly what I would call easy, but it went pretty quickly. They can help you with the install process if you need it. Once it is setup the tracking can begin.

Conversion Prophet 2 works a principle dubbed AIDA. AIDA represents the following:

Attention - get your prospective buyer's attention with your headline. This works for Adwords as well as your sales page.

Interest - Maintain your prospective buyer's interest level by letting them know how your product or service can solve their specific problem and help improve their lives.

Desire - Make your prospective buyers feel how greatly improved their life can be once your product or service is working for them.

Action - After the first three steps are finished, your prospective buyer will take the appropriate action. That may be opting into your list or purchasing your product or service.

Conversion Prophet 2 uses a formula to track these various levels of interest. It then gives you results that you can use to decide if you want need to change your ad or sales page. It boasts that it can do this within 100 visitors, not just actions taken. Conversion Prophet includes split-testing, but I recommend you check out the more expensive package that includes Multivariate Taguchi Testing, which will allow to rotate multiple items on your ad or sales page for even quicker results.

If you do any kind of selling online, then you should know that testing and tracking is paramount to your success. In all my articles, blog post and free courses, I’ve always emphasized on the importance of testing and tracking.

But there’s so many choices out there, which one should you use? Well, I’m here to help with that. Now, why should you listen to me? Here’s some reasons why:

1. I run what you can all "a successful" online business. Though I may not be a millionaire or anything, I work from home and around my children 24/7.

2. I’ve tested a lot of testing and tracking script.

I can honestly tell you that Conversion Prophet is my choice. Unless you’ve got lots of cash at your disposal, you do not want to hire a team analyst to do your own testing. Heck I bet you can’t even afford some of the higher end services let alone your personal analyst team.

You can try thrid party tracking services, such as CrazyEgg which cost a monthly free varying from $9 to $99 or you can get one script and that’s all. Conversion prophet install into your server and there’s monthly fee.

So here’s the list of testing and tracking script I’ve tried:

1. Extreme Conversions

2. Split Test Accelerator

3. Kaizen Track

4. Google Analytics

5. Dyna Tracker

6. MuVar

7. … Do I need more?

Conversion prophet is head and shoulders above the rest for one simple reason: and that’s its pre-tracking capability. Being the first of its kind, there’s really no real competition to it. Pre-tracking allows you to accurately "predicts" how successful your website is going to be in about 70 visitors.

Even with Taguchi testing, you’ll need hundreds (or thousands) of visitors and dozens of actions before you can statistically infer whether your website is converting or not. I can tell, from personal experience, that it’s depressing to spend a lot of money and effort just to find out that you’ve failed.

So why stop early and try another route? Now you can… using Conversion prophet .

And yes, Conversion prophet has the usual features such as Split testing and Taguchi testing.

Though not exactly exclusive to Conversion prophet, it also has keywords tracking and that means loads of money saving if you’re in the PPC game as I am. Useless keywords has a way of pumping money into Google by sucking you dry. Sure Google’s conversion tracking can do that for you, but then again, without pre-tracking, you really can lose a lot of money to test your website.

What is conversion tracking?
Advertisers want to know the effectiveness of their campaigns. It often takes many impressions/views to get a click. However, clicks are not the last action performed by your visitors. Visitors might purchase some items from the advertiser's website after they click on the ad. Conversion tracking answers the question of how many clicks result in an actual purchase, sign-up/registration, lead, viewing of a key page, or some other valuable actions.

Advertisers can get the conversion code, define the conversion types and view conversion stats reports by following the menu My Account / Conversion Tracking in their advertiser's account. Publishers can also generate/view the conversion code to assist their advertisers with the setup.
How does conversion tracking work?
Assuming you, the advertiser, has placed our conversion tracking code at the end of the ordering process (for eg: a "Thank You" page), the process will follow these steps:
Click
A visitor clicks on the ad and begins browsing the advertiser's store on September 10. The system records a click on September 10. A cookie is created to track conversions and it could last up to 30 days after the click. See conversion vs. transaction
Purchase
This visitor eventually makes a purchase on September 15. She gets to the "Thank You" page that contains the conversion tracking code. Our system records this conversion and award it to the original click. A zone is also credited if the clicked ad was served via a zone and not directly.
Reporting
If the conversion is not unique within 24 hours (similar to Unique/Raw Impressions), the transaction count will still be incremented but the conversion count stays the same. The conversion report will show that on September 10, there is one click, one conversion, and one transaction for this click.
Considerations

* The conversion tracking code should be placed in the right page(s). For example: if the code is placed on the order form instead of the Thank You page, the conversions are the interests in the product and not the actual purchases. Generally, it should not be easily accessible from the web unless you want to count conversions of key page-views.
* If the visitor refreshes/reloads the "Thank You" page, the transaction count (and its dollar value) will be incremented. To avoid this situation, you can have a middle page with the conversion tracking code that quickly redirects to the final Thank You page. For example, page A has the tracking code. After ordering, the shopping cart redirects to page A. In turn, page A records the conversion then quickly redirects to the Thank You page.

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